Research performed by

Grand Strand Market Report September 2016 Single Family Residential sales activity dipped as sales prices rise 4%. Year-to-date

sales and sales price remain strong, up 3.6% and 3.3% respectively. Condo sales in

September are flat with prices rising 3.3% compared to September 2015.

Residential lot sales are up 15% compared to September 2015 but down 6.7% for

the year.

SFR sales volume dipped 9.4% in September which marked four consecutive months of decline as compared to 2015 record performance. Year-to-date, SFR sales are up 3.6% compared to 2015. Median sales price increased to $215,320, up 4% for the month, and up 3.3% in 2016. When compared to September 2015, sales prices for new construction and resales are up 7.6% and 3.9% respectively. Year-to-date, the median sales price for new construction has remained stable with resales up 6.6%. The average sold-to-list ratio for Single Family Residential sales in September was 96%, flat compared to the same month in 2015.

Condo sales decreased 0.9% compared to September 2015 but are up 8.2% year-to-date compared to 2015. Condo inventory remained stable, only increasing by 0.1% in September. Median sales price increased 3.3% to $124,000 in September and maintained its growth at 3.5% for the year. The average sold to list ratio for condo sales in September was 93%, up 100 basis points compared to the same month in 2015.

Residential lot sales were up 15% in September compared to 2015 but are down 6.7% year-to-date. Median sales price saw an 8.2% decrease for the month compared to 2015 with the year-to-date sales price decreasing 4.7%. However, sold to list ratios are up 400 basis points for September and up 500 basis points for the year.

At a glance…

SFR Condo Residential Lot

Sales Inventory Sales Inventory Sales Inventory Month YTD Month Month YTD Month Month YTD Month

-

Median Sales Price Median Sales Price Median Sales Price

$215,320 $124,000 $44,500

2 Research performed by

Contents

Active Inventory 3

Inventory Trends – SFR & Condo 4

Closed Sales – SFR 5

Median Sales Price – SFR 6

Sold to List Price Ratio – SFR 7

New Construction vs Resale – SFR

% of Total Sales 8

Median Sales Price 9

Closed Sales – Condo 10

Median Sales Price – Condo 11

Sold to List Price Ratio – Condo 11

Closed Sales – Residential Lot 12

Median Sales Price – Residential Lot 13

Sold to List Price Ratio – Residential Lot 13

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3 Research performed by

Grand Strand Active Inventory Single Family Residential Distribution by Price Range

Condo/Townhome Distribution by Price Range

Residential Lot Distribution by Price Range

Horry Co. G’town Co.

Less than $150k 668 65

$150k - $250k 1,686 118 $250k - $500k 1,600 330

$500k - $1.0 MM 408 155

$1 MM + 110 91

# Listings

Horry Co. 4,472 Georgetown 759

Total 5,231

Average List Price $354,067 Median List Price $257,400

Horry Co. G’town Co.

Less than $100k 904 20 $100k - $150k 915 73

$150k - $200k 602 84 $200k - $400k 999 103

$400k - $750k 165 90

$750k + 31 18

# Listings

Horry Co. 3,616

Georgetown 388

Total 4,004 Average List Price $200,958

Median List Price $157,950

Horry Co. G’town Co.

Less than $25k 179 63

$25k - $50k 376 87

$50k - $75k 246 57 $75k - $100k 144 72

$100k - $175k 200 120 $175k - 250k 110 87

$250k + 115 133

# Listings

Horry Co. 1,370

Georgetown 619

Total 1,989

Average List Price $139,900

Median List Price $74,900

4 Research performed by

Grand Strand Inventory Trends SFR Inventory - September

Historical Data

Condo Inventory – September

Historical Data

May-105,453

Dec-114,340

Sep-165,231

4,0004,2004,4004,6004,8005,0005,2005,4005,6005,800

May

-10

Au

g-1

0

No

v-1

0

Feb

-11

May

-11

Au

g-1

1

No

v-1

1

Feb

-12

May

-12

Au

g-1

2

No

v-1

2

Feb

-13

May

-13

Au

g-1

3

No

v-1

3

Feb

-14

May

-14

Au

g-1

4

No

v-1

4

Feb

-15

May

-15

Au

g-1

5

No

v-1

5

Feb

-16

May

-16

Au

g-1

6

4,364

4,1434,213

4,000 4,004

2012 2013 2014 2015 2016

Jun-105,748

Dec-133,930

Sep-164,004

3,500

4,000

4,500

5,000

5,500

6,000

May

-10

Au

g-1

0

No

v-1

0

Feb

-11

May

-11

Au

g-1

1

No

v-1

1

Feb

-12

May

-12

Au

g-1

2

No

v-1

2

Feb

-13

May

-13

Au

g-1

3

No

v-1

3

Feb

-14

May

-14

Au

g-1

4

No

v-1

4

Feb

-15

May

-15

Au

g-1

5

No

v-1

5

Feb

-16

May

-16

Au

g-1

6

4,7174,888

5,258 5,369 5,231

2012 2013 2014 2015 2016

5 Research performed by

Closed Sales – SFR September Year to Date

Historical Data

Year Over Year

555

678614

2014 2015 2016

4,372

5,286 5,475

2014 2015 2016

Jan-09149

Jun-15756

Sep-16614

100

200

300

400

500

600

700

800

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

Sep

-16

0

200

400

600

800

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2015 2016

6 Research performed by

Median Sales Price – SFR

September Year to Date

Historical Data

$196,000

$207,063

$215,320

2014 2015 2016

$190,000

$200,798

$207,500

2014 2015 2016

Jun-06$242,310

Sep-12$160,163

Sep-16$215,320

$150,000

$160,000

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000

Jan

-06

Jun

-06

No

v-0

6

Ap

r-0

7

Sep

-07

Feb

-08

Jul-

08

Dec

-08

May

-09

Oct

-09

Mar

-10

Au

g-1

0

Jan

-11

Jun

-11

No

v-1

1

Ap

r-1

2

Sep

-12

Feb

-13

Jul-

13

Dec

-13

May

-14

Oct

-14

Mar

-15

Au

g-1

5

Jan

-16

Jun

-16

7 Research performed by

Sold to List Price Ratio – SFR

September Year to Date

Historical Data

95%

96% 96%

2014 2015 2016

94%

95%

96%

2014 2015 2016

Jan-0698%

September-09 & Apr-1186%

Sep-1696%

80

82

84

86

88

90

92

94

96

98

100

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

Sep

-16

8 Research performed by

New Construction vs Resale – SFR % of Total Sales

September Year to Date

Historical Data – % of Total Sales

32% 35% 35%

68% 65% 65%

2014 2015 2016

New Construction Resale

37% 38% 32%

63% 62% 68%

2014 2015 2016

New Construction Resale

Apr-1322%

Jun-1336%

Dec-1336%

Sep-1632%

Apr-1378%

Jun-1364%

Dec-1364%

Sep-1668%

0

100

200

300

400

500

600

700

800

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Sep

-11

Dec

-11

Mar

-12

Jun

-12

Sep

-12

Dec

-12

Mar

-13

Jun

-13

Sep

-13

Dec

-13

Mar

-14

Jun

-14

Sep

-14

Dec

-14

Mar

-15

Jun

-15

Sep

-15

Dec

-15

Mar

-16

Jun

-16

Sep

-16

Total SFR Sales % New Construction % Resale

9 Research performed by

New Construction vs Resale – SFR Median Sales Price

September Year to Date

Historical Data – Median Sales Price

$221,968 $229,090 $229,000

$173,000 $182,500$194,500

2014 2015 2016

New Construction Resale

$220,452 $225,578$242,800

$176,500$192,500 $200,000

2014 2015 2016

New Construction Resale

Aug-12$183,320

Mar-14$249,440 Sep-16

$242,800

Nov-11$145,000

Aug-14$184,900

Sep-16$200,000

$120,000

$140,000

$160,000

$180,000

$200,000

$220,000

$240,000

$260,000

Sep

-11

No

v-1

1

Jan

-12

Mar

-12

May

-12

Jul-

12

Sep

-12

No

v-1

2

Jan

-13

Mar

-13

May

-13

Jul-

13

Sep

-13

No

v-1

3

Jan

-14

Mar

-14

May

-14

Jul-

14

Sep

-14

No

v-1

4

Jan

-15

Mar

-15

May

-15

Jul-

15

Sep

-15

No

v-1

5

Jan

-16

Mar

-16

May

-16

Jul-

16

Sep

-16

New Construction Resale

10 Research performed by

Closed Sales – Condo

September Year to Date

Historical Data

Year Over Year

361

426 422

2014 2015 2016

3,1683,513

3,802

2014 2015 2016

May-06845

Jan-09117

Sep-16422

100

200

300

400

500

600

700

800

900

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

Sep

-16

0

100

200

300

400

500

600

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2015 2016

11 Research performed by

Median Sales Price – Condo

September Year to Date

Historical Data

Sold to List Price Ratio – Condo September Year to Date

Historical Data

$117,000

$120,000

$124,000

2014 2015 2016

$112,000

$115,000

$119,000

2014 2015 2016

92% 92%

93%

2014 2015 2016

91%

92%

93%

2014 2015 2016

Mar-06& Apr-06

98%

Apr-09 & September-09

81%

Sep-1693%

75

80

85

90

95

100

Jan

-06

Jun

-06

No

v-0

6

Ap

r-0

7

Sep

-07

Feb

-08

Jul-

08

Dec

-08

May

-09

Oct

-09

Mar

-10

Au

g-1

0

Jan

-11

Jun

-11

No

v-1

1

Ap

r-1

2

Sep

-12

Feb

-13

Jul-

13

Dec

-13

May

-14

Oct

-14

Mar

-15

Au

g-1

5

Jan

-16

Jun

-16

Jun-07$249,921

Nov-11$93,450

Sep-16$124,000

$50,000

$100,000

$150,000

$200,000

$250,000

Jan

-06

Jun

-06

No

v-0

6

Ap

r-0

7

Sep

-07

Feb

-08

Jul-

08

Dec

-08

May

-09

Oct

-09

Mar

-10

Au

g-1

0

Jan

-11

Jun

-11

No

v-1

1

Ap

r-1

2

Sep

-12

Feb

-13

Jul-

13

Dec

-13

May

-14

Oct

-14

Mar

-15

Au

g-1

5

Jan

-16

Jun

-16

12 Research performed by

Closed Sales – Residential Lot

September Year to Date

Historical Data

Year Over Year

0

50

100

150

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2015 2016

113

100

115

2014 2015 2016

776

823

768

2014 2015 2016

Apr-06266

Jan-0911

Sep-16115

0

50

100

150

200

250

300

Jan

-06

May

-06

Sep

-06

Jan

-07

May

-07

Sep

-07

Jan

-08

May

-08

Sep

-08

Jan

-09

May

-09

Sep

-09

Jan

-10

May

-10

Sep

-10

Jan

-11

May

-11

Sep

-11

Jan

-12

May

-12

Sep

-12

Jan

-13

May

-13

Sep

-13

Jan

-14

May

-14

Sep

-14

Jan

-15

May

-15

Sep

-15

Jan

-16

May

-16

Sep

-16

13 Research performed by

Median Sales Price – Residential Lot

September Year to Date

Historical Data

Sold to List Price Ratio – Residential Lot

September Year to Date

Historical Data

$50,000 $48,500

$44,500

2014 2015 2016

$50,000 $48,250

$46,000

2014 2015 2016

Aug-06$130,000

Nov-11$15,000

Sep-16$44,500

$0

$50,000

$100,000

$150,000

Jan

-06

Jun

-06

No

v-0

6

Ap

r-0

7

Sep

-07

Feb

-08

Jul-

08

Dec

-08

May

-09

Oct

-09

Mar

-10

Au

g-1

0

Jan

-11

Jun

-11

No

v-1

1

Ap

r-1

2

Sep

-12

Feb

-13

Jul-

13

Dec

-13

May

-14

Oct

-14

Mar

-15

Au

g-1

5

Jan

-16

Jun

-16

78% 78%

82%

2014 2015 2016

81%

78%

83%

2014 2015 2016

Apr-0699%

Nov-1147%

Sep-1682%

40

60

80

100

120

Jan

-06

Jun

-06

No

v-0

6

Ap

r-0

7

Sep

-07

Feb

-08

Jul-

08

Dec

-08

May

-09

Oct

-09

Mar

-10

Au

g-1

0

Jan

-11

Jun

-11

No

v-1

1

Ap

r-1

2

Sep

-12

Feb

-13

Jul-

13

Dec

-13

May

-14

Oct

-14

Mar

-15

Au

g-1

5

Jan

-16

Jun

-16